Zacks: Brokerages Expect Medpace Holdings Inc (NASDAQ:MEDP) Will Announce Quarterly Sales of $222.08 Million

Wall Street brokerages expect that Medpace Holdings Inc (NASDAQ:MEDP) will post sales of $222.08 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Medpace’s earnings, with the highest sales estimate coming in at $225.30 million and the lowest estimate coming in at $220.41 million. Medpace reported sales of $192.12 million during the same quarter last year, which indicates a positive year over year growth rate of 15.6%. The business is expected to issue its next quarterly earnings results after the market closes on Monday, February 24th.

According to Zacks, analysts expect that Medpace will report full year sales of $853.18 million for the current year, with estimates ranging from $851.49 million to $856.40 million. For the next fiscal year, analysts anticipate that the business will report sales of $984.70 million, with estimates ranging from $967.50 million to $1.01 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Medpace.

Several equities research analysts recently issued reports on MEDP shares. Zacks Investment Research cut shares of Medpace from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. SunTrust Banks cut shares of Medpace from a “buy” rating to a “hold” rating and raised their target price for the stock from $85.00 to $87.00 in a report on Monday, January 27th. Finally, BidaskClub upgraded shares of Medpace from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 24th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Medpace has an average rating of “Buy” and an average price target of $77.50.

Shares of NASDAQ:MEDP traded up $0.08 during trading on Friday, reaching $97.86. 188,700 shares of the stock traded hands, compared to its average volume of 178,545. The stock has a 50-day moving average of $88.31 and a two-hundred day moving average of $81.13. Medpace has a 52-week low of $50.14 and a 52-week high of $98.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $3.52 billion, a P/E ratio of 39.46, a price-to-earnings-growth ratio of 2.27 and a beta of 1.50.

In other news, CFO Jesse J. Geiger sold 14,400 shares of Medpace stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $82.00, for a total transaction of $1,180,800.00. Following the transaction, the chief financial officer now owns 16,948 shares in the company, valued at approximately $1,389,736. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 24.20% of the company’s stock.

Several institutional investors have recently modified their holdings of MEDP. Voloridge Investment Management LLC bought a new stake in shares of Medpace during the 3rd quarter valued at $5,921,000. McGuire Investment Group LLC increased its holdings in Medpace by 495.0% in the 4th quarter. McGuire Investment Group LLC now owns 38,644 shares of the company’s stock valued at $3,248,000 after acquiring an additional 32,149 shares during the last quarter. State Street Corp increased its holdings in Medpace by 0.3% in the 3rd quarter. State Street Corp now owns 792,313 shares of the company’s stock valued at $66,586,000 after acquiring an additional 2,609 shares during the last quarter. Barclays PLC increased its holdings in Medpace by 12.3% in the 3rd quarter. Barclays PLC now owns 42,719 shares of the company’s stock valued at $3,590,000 after acquiring an additional 4,671 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its holdings in Medpace by 30.7% in the 3rd quarter. State of Tennessee Treasury Department now owns 19,841 shares of the company’s stock valued at $1,668,000 after acquiring an additional 4,663 shares during the last quarter. Institutional investors and hedge funds own 78.85% of the company’s stock.

Medpace Company Profile

Medpace Holdings, Inc, a clinical contract research organization, provides scientifically-driven outsourced clinical development services to the biotechnology, pharmaceutical, and medical device industries worldwide. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in a range of therapeutic areas.

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Earnings History and Estimates for Medpace (NASDAQ:MEDP)

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